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1410 Incarnation Dr - Branchlands Professional Center

15,340 SF Office/Medical Unit Offered at £2,722,050 in Charlottesville, VA 22901

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Investment Highlights

Attractive for investors & 1031 exchange purchasers.
Well located in Seminole Trail(US Route29) business corridor.

Major tenant is a successful & long running sports and rehabilitation company.
Close to retail, office, medical care facilities & residential areas.

Executive Summary

This is a main level business condominium in the Branchlands Professional Center located on the corner of Incarnation Dr. and Hillsdale Dr. The total size of this condominium is approximately 15,340 sq. ft. A sports and medical rehabilitation facility occupy approximately 12,240 sq. ft. under a five(5) year, triple net lease, with the initial base rent at $17,050 per month. The base rent will increase January of each year by one and one half(1.50%) percent. The tenant has one(1), five(5) year option to renew the lease with a minimum of 180 day written notice. The balance of the condominium, approximately 3,100 sq. ft., is occupied by the owners, and has been turned into residential space. The County will allow the owners of the condominium to occupy this section of the unit as a residence, or, any person who works for the business that occupies the larger area of the condominium. Additionally, this smaller section of the condominium my be rented as an office/business space. Please contact agent for additional details and questions.

Property Facts

Price	£2,722,050	Building Class	B
Unit Size	15,340 SF	Number of Floors	2
No. Units	1	Typical Floor Size	15,340 SF
Total Building Size	60,000 SF	Year Built	2000
Property Type	Office (Unit) Office Office Residential	Lot Size	2.00 AC
Sale Type	Investment or Owner User	Parking Ratio	1.33/1,000 SF

Price	£2,722,050
Unit Size	15,340 SF
No. Units	1
Total Building Size	60,000 SF
Property Type	Office (Unit) Office Office Residential
Sale Type	Investment or Owner User
Building Class	B
Number of Floors	2
Typical Floor Size	15,340 SF
Year Built	2000
Lot Size	2.00 AC
Parking Ratio	1.33/1,000 SF

1 Unit Available

Unit 101

Unit Size	15,340 SF	Net Initial Yield	7.17%
Price	£2,722,050	NOI	£195,170.98
Price Per SF	£177.45	No. Parking Spaces	50
Unit Use	Office/Medical	APN/Parcel ID	061Z0-03-00-10100
Sale Type	Investment or Owner User

Unit Size	15,340 SF
Price	£2,722,050
Price Per SF	£177.45
Unit Use	Office/Medical
Sale Type	Investment or Owner User
Net Initial Yield	7.17%
NOI	£195,170.98
No. Parking Spaces	50
APN/Parcel ID	061Z0-03-00-10100

Description

This is a main level business condominium in the Branchlands Professional Center located on the corner of Incarnation Dr. and Hillsdale Dr. The total size of this condominium in approximately 15,340 sq. ft. A medical sports & rehabilitation company lease approximately 12,240 sq. ft. under a five(5) year, triple net lease, with the initial base rent at $17,050 per month. The base rent will increase January of each year by one and one half(1.50%) percent. The tenant has one(1), five(5) year option to renew the lease with a minimum of 180 days written notice. The balance of this unit, approximately 3,100 sq. ft., is occupied by the condominium owners, which has been turned into residential space. The County will allow the owners of the condominium to occupy this section of the unit as a residence, or, any person(s) who works for the business that occupies the main space of the condominium. Additionally, this smaller section of the condominium may be rented as an office/business space. Please contact agent for additional details and questions.

Sale Notes

Investors and 1031 exchange purchasers. This property will fit well into your portfolio. Approximately 12,000 sq. ft. of this unit is under a five(5) year, triple net lease to a sports and medical rehabilitation company with the first year base rent at $17,050 per month. The base rent escalates every January by one and one half(1.50%) percent. The remaining 3,000+/- sq. ft. of this unit is currently occupied by the owners of the condominium.

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